Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 12-Month Low - Time to Sell?

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Saturday . The stock traded as low as $144.90 and last traded at $146.74, with a volume of 4092818 shares changing hands. The stock had previously closed at $158.90.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ODFL. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a "buy" rating and a $236.00 price target for the company. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and cut their price target for the stock from $186.00 to $183.00 in a report on Tuesday, April 8th. Evercore ISI cut their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. StockNews.com lowered Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Finally, Jefferies Financial Group reduced their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $182.95.

Old Dominion Freight Line Stock Performance

The company's 50-day moving average is $164.25 and its two-hundred day moving average is $187.20. The company has a market capitalization of $31.75 billion, a P/E ratio of 27.31, a PEG ratio of 2.89 and a beta of 1.25. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the company posted $1.34 EPS. The business's quarterly revenue was down 5.8% on a year-over-year basis. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.75%. Old Dominion Freight Line's dividend payout ratio is 21.01%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ODFL. Hantz Financial Services Inc. increased its stake in Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after purchasing an additional 55 shares during the period. D.A. Davidson & CO. increased its position in shares of Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock valued at $509,000 after acquiring an additional 55 shares during the period. Evergreen Private Wealth LLC grew its stake in shares of Old Dominion Freight Line by 0.9% in the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock worth $1,173,000 after purchasing an additional 59 shares during the last quarter. Lido Advisors LLC raised its position in Old Dominion Freight Line by 3.2% during the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock valued at $340,000 after purchasing an additional 59 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in Old Dominion Freight Line by 5.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock worth $206,000 after acquiring an additional 61 shares during the period. 77.82% of the stock is currently owned by institutional investors.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.